Shenzhen Zhongfu Circuit Co., Ltd. Special Report on the Use of Previously Raised Funds
The company and all members of the board of directors guarantee that the information disclosed is true, accurate, and complete, with no false records, misleading statements, or significant omissions.
I. Previous Fundraising Situation
(1) 2021 Public Offering of Common Stock (A Shares)
The fundraising was approved by the China Securities Regulatory Commission (CSRC) under document [2021]2059 and by the Shenzhen Stock Exchange (SZSE). On August 2, 2021, Shenzhen Zhongfu Circuit Co., Ltd. (the "Company") publicly issued 43.96 million shares of common stock (A Shares) at a par value of RMB 1 per share, with an issuance price of RMB 8.40 per share. As of August 6, 2021, the Company raised a total of RMB 369,264,000.00, deducting issuance costs of RMB 39,542,732.06 (excluding VAT), resulting in a net amount of RMB 329,721,267.94. The raised funds were deposited into the Company's designated special account on August 6, 2021. The verification report was issued by Dahua Certified Public Accountants with report number "Dahua Verification [2021]000553". The Company manages the raised funds in a special account and has signed a tripartite supervision agreement with the sponsor and the bank where the special account is held.
As of December 31, 2025, the storage situation of the raised funds is as follows:
| Bank Name | Account Number | Initial Deposit Amount | Balance as of Date | Storage Method |
|---|---|---|---|---|
| Ping An Bank Shenzhen Shenda Branch | 15000107060664 | 170,900,000.00 | - | Closed |
| China Merchants Bank Shenzhen Nanshan Branch | 755918644610802 | 116,923,080.63 | - | Closed |
| China Merchants Bank Shenzhen Nanshan Branch | 755918644610603 | 54,082,428.81 | - | Closed |
| Total | 341,905,509.44 | - |
Note 1: The initial deposit amount was used to pay issuance costs and replace funds of RMB 6,167,828.29 and information disclosure costs of RMB 6,016,413.21, resulting in a net amount of RMB 329,721,267.94.
Note 2: The special account opened at China Merchants Bank Shenzhen Nanshan Branch (account number 755918644610603) was for supplementing working capital. After the funds were fully utilized, the account was closed on January 21, 2022.
Note 3: The special account opened at China Merchants Bank Shenzhen Nanshan Branch (account number 755918644610802) was for the new annual production capacity of 400,000 square meters of circuit boards project. After the funds were fully utilized, the account was closed on June 8, 2023.
Note 4: The special account opened at Ping An Bank Shenzhen Shenda Branch (account number 15000107060664) was for the new annual production capacity of 400,000 square meters of circuit boards project. After the funds were fully utilized, the account was closed on June 28, 2023.
(2) 2023 Issuance of Convertible Bonds to Unspecified Objects
The fundraising was approved by the CSRC under document [2023]2047 and by the SZSE. The Company issued 5,200,000 convertible bonds, each with a par value of RMB 100.00. The total amount raised was RMB 520,000,000.00. After deducting underwriting and sponsorship fees of RMB 2,830,188.68, the net amount raised was RMB 517,169,811.32, which was deposited by Ping An Securities Co., Ltd. on October 20, 2023, into the Company's accounts at China Merchants Bank Shenzhen Nanshan Kechuang Branch (account number 755918644610222) and Ping An Bank Shenzhen Shenda Branch (account number 15634880420091). After deducting other issuance costs of RMB 1,849,651.94, the net amount raised was RMB 515,320,159.38. The fund status has been verified by Dahua Certified Public Accountants, which issued verification report number "Dahua Verification [2023]000617". The Company has implemented a special account storage system for the raised funds and has signed a supervision agreement with the sponsor and the commercial bank holding the raised funds.